ADVISORY EXECUTION RESEARCH

We have personal and long standing relationships with traders and sales desks at over 200 counterparties, of whom 50 are US based, giving you access to a full and comprehensive view of markets and how they are axed at any point in time. We also connect you to our extensive network of US domestic brokers.
With markets ever more fragmented, and bonds liquid for shorter periods of time, depth has never been more important.

Access exclusive client to client liquidity, away from the market, through our strong relationships with over 500 global institutional clients based in the CEEMA, EMEA, LATAM, UK & US. Our clients include asset managers, banks, bond funds, family offices, hedge funds, independent wealth managers, insurance companies, pension funds and sovereign wealth funds.

Our clients gain access to extensive layers of liquidity.

• 200+ Market Counterpart, of which 50+ US Brokers
• 500+ institutional clients
• LiquidNet
• Stock exchanges
• Tradeweb

We trade over USD 30 bln equivalent nominal per year in various currencies. Our trading volumes enable us to give clients, who trade their secondary business with us, access to primary market issues. This is a significant benefit as allocations of note are rarely made to institutional clients who are below tier one.

Trading at the best price available to our clients is the key focus of our best execution policy. Trade with us using the most convenient method for you – telephone, Bloomberg ALLQ, Bloomberg IB, email, FIX connection or telephone. We appreciate that many of our clients will already have relationships with a number of market makers and we always ensure that these are never compromised.

We pride ourselves on working closely with our clients to ensure they benefit from our extensive bond market knowledge. Whether it is sourcing axes, knowing which houses are best in which sector or understanding the type of bonds that our clients require. By maintaining close relationships and high levels of trust with both the buy and sell side, we benefit all.

Bloomberg BMTF ensures seamless compliance with the MiFID II regulatory requirements.
For non-MTF transactions, TRADEcho provides simplified, cost-effective MiFID II reporting where clients wish us to report on their behalf.
TRADEcho is able to route regulatory trade reports to an Approved Publication Arrangement (APA) in the UK or the EU whichever our client chooses.

Often undervalued, we appreciate that if trades do not settle efficiently this results in extra work for all concerned. Particularly in light of CSDR. We can pre-match through OMGEO CTM and settle via Clearstream, CREST, DTC and Euroclear along with most other CSDs. We have our own experienced in-house settlements team who are there to assist with any issues that may arise.

Please find our latest standard settlement instructions for Geneva here, for Jersey there

The “Monthly Review” is published by our in-house Research team. This Chart Book covers:

• Key indicators for CHF, EUR, GBP & USD markets.

Our ‘Investment Cases’ are key publications where we identify specific tactical and strategic market opportunities and actively follow these recommendations with regular updates. These reports can be accessed via our ‘Trade Ideas Room’. These publications enable our clients to consider, and benefit from, specific trade ideas that reflect the current market dynamics and our thinking.

Our “Strategy” is published biannually and it provides a medium-term view (12-18 months) on the CHF, EUR, GBP & USD markets. It gives a consolidated overview of our opinion across credit markets. When used in conjunction with our other research pieces, clients find it acts as an invaluable tool that helps them form their own fixed income strategies.

Our clients benefit from personalised bond reporting, for example:

• Bond analysis vs Benchmark
• Portfolio impact of an idea
• Price relative to peers
• Rating analysis
• Statistical data
• Switch candidates

• Analysis of the credit metrics of different issuers
• Breakdowns by tenor, COR, COI, collateral, coupon and maturity
• Credit rating analysis highlighting downgrade or upgrade candidates
• Valuation, asset diversification & cash flow simulation

Will a bond issuer be able to cover future debt servicing requirements? Our Credit Review Model (CRM) answers this question by using quantitative analysis to classify individual bond issuers according to their debt sustainability. The outputs from our CRM provide invaluable information to our clients on portfolio composition.